San Diego California Home Sellers Lose Big

MDA DataQuick .. Real estate research firm reported about two-thirds of property owners who sold homes in San Diego County this summer lost money. The average loss was $161,000, or 35.5% less than the home had sold for previously.

DataQuick's report also said of the 4,318 homes sold between June 22-Aug. 22… 2,624 or 62.7% were sold at a loss. Many of the sales were foreclosures. Losses on foreclosures running 39% off the previous sale price, compared with a 27% loss for nonforeclosures.  

In some San Diego zip codes, foreclosures amounted to nearly 90% of all sales. Many of the other sales were short sales.              San Diego CA real estate agents